anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

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Maybe they would be better suited, running a petrol station ?

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StockMarketWire.com
Sterling Energy said 2D seismic data from the Sangaw North PSC in Kurdistan indicated the remaining potential was insufficient to justify drilling a second exploration well in the area.

The company said it had therefore elected to withdraw from the Sangaw North PSC, effective from Jan. 29, 2013.

"While we are naturally very disappointed to have been unsuccessful in our exploration efforts in Kurdistan, we now look forward to focusing on, and adding to, our remaining high potential exploration interests in Africa," said CEO Angus MacAskill.

Ian Forsyth | 22/02/2013 Aberdeen P&J


Cost overruns: Sterling Resources has a stake in the southern North Sea Breagh development

Troubled oil and gas exploration firm Sterling Resources has agreed to sell more than 73million shares in the company to a syndicate of underwriters led by Casimir Capital for £35million.

Last week, Dutch multinational energy and commodity-trading group Vitol made a £123million cash bid to take over Sterling, which has North Sea interests. Sterling said this week the share offering would mean it was funded until June. Chairman Walter DeBoni said: “On February 6, we announced an update on both our near and longer-term capital requirements, and we are very pleased with the offering which has addressed our near-term capital needs.

“Equally important, the offering will provide us with the appropriate time to undertake a thorough and systematic review of all of our strategic alternatives . . . in response to the unsolicited offer from Vitol.”

Sterling said last week it would consider the Vitol offer, but that it would also be continuing discussions with others on potential deals such as a merger, sale of parts of its business or other financing options.

Analysts said the offer undervalued Sterling’s assets, particularly its exploration portfolio offshore Romania, but given its financing issues it was a good deal.

Sterling, which also has assets in the North Sea and France, has been struggling to find funding since last year and said recently it was deferring some payments to see it through to next month.

Sterling’s woes stem from its North Sea Breagh project, which has faced delays and cost overruns.

Costs on the project have risen to £632million, from £485million, with first gas pushed back from July last year to next month.

cyril...Sterling Resources no connection to Sterling Energy.

Soyuznefte Capital Limited - Is this a Russian investment company, or what ?

Why are they gradually buying up so many Sterling Energy shares
Now they have 15.22%.
Do SEY directors have any inside knowledge of Soyuznefte intentions ?

From the "trades" shown daily, it looks as if everybody else is gradually selling,
perhaps because SEY seems to have done almost nothing for so long.

Share price is probably now almost equal to SEY cash in their bank.

It is time the Directors got off the fence, or woke up and took some action.
Perhaps SEY investors should ask for new Directors at voting time.

is the cash in the bank still there?

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The last Interim Report we had the cash is still there -
I do not know why SEY can not find a useful place for it after so long
If it were me I would look at buying some small Oil explorer or similar
There should be lots of good value about at the present

Madagascar elections are now planned for 25 October 2013, so we possibly may see some political stability emerging after years of Madagascar turmoil. Or will they be delayed yet again - ha !!!!!!!!!!!!! If elections go well we may / should see some progress on Madagascar oil drilling particularly for Afren and Sterling Energy, and possibly Mobil. So SEY may come to life after months or is it years in the doldroms. Is SEY a one man band now with the Chairman running everything ?

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Is / are their an institution / institutions which hold large blocks of SEY shares ?
It looks like they are also sleeping - i.e. it seems like fund managers or others are content to sit on SEY shares as long as they can draw some kind of "management" fees.

Is their a web site where we can see who the SEY shareholders are - i.e. can we read the register of members, as we could in "the old days" if we went to a Company Registered office ?

Does anyone know how to determine who company shareholders are ?

Then we may e mail them and ask what they think and are doing about SEY.

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rekirkham
you will find details of all the major shareholders on the company website.

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Invesco had 34,592,405 shares but sold some in last few days so now have 15,103.971. Who bought the 19,488,474 shares sold - I hope it was Afren, but was probably not.

Did Invesco get tired of the SEY inaction ? Is some other Investment house hoping that SEY may wake up to being an oil exploration company again, and start some action ?

A bit of corporate action is better than nothing happening I guess.

rekirk if invesco reduced their shareholding by 19m shares presumably they don't think mutch is likely to happen in the near future to push the sp higher.

Madagascar elections s/be this week -
After which we could possibly see some progress for SEY's large off shore interests there.
Share price has been a little stronger of late, and major shareholder changes happened.